beatusrhenanus

Hi all, I'm a UK expat in my late 20s currently living in Florida on a $60k salary, and there is a possibility of a job offer in my field coming up in the East Midlands with a salary of £32k. I am trying to decide if I would really want to move back, if offered the job. Obviously, there are a whole load of highly subjective factors at play that I won't go into and that you can't know; suffice to say that there are no strong family, lifestyle, or emotional reasons for me to either stay or go. So I'm trying to look at this from the somewhat more objective perspective of finances, and their influence on quality of life.

On the face of it, the UK salary would be a substantial reduction. Promotion prospects are also similar in both jobs (in 10 years I'd expect to be on about $70-75k in the current job, or around £40k in the UK job). But I think the cost of living in the UK is much lower. In the UK job, I likely wouldn't need a car (so that's several thousands saved per year - I'd get around by bike, occasionally train). Even with good health insurance, I have to budget $2-4k per year for healthcare here; in the UK it would be zero because of the NHS. Unless a lot has changed since I left England in mid-2017, groceries (especially fresh fruit and veg) are way cheaper in the UK, although that might change with no-deal Brexit on the horizon. Houses are also similar in price in both areas (decent 3-beds are mid-$200ks here in Central FL, low to mid-£200ks in the East Midlands - and maintenance is also much lower in the UK, and you don't have to budget $2-3k in annual hurricane/sinkhole insurance). Rent is higher here in Central FL ($1000-1500 for a one-bed in a halfway decent area, versus £600-800 for a good-sized house or flat in the English town, according to Rightmove). In general, I remember utilities being cheaper in the UK (e.g. £30 for broadband internet vs $70 here).

Do you think these factors more or less even out the salary discrepancy? Or am I missing some major UK-related expenses/misremembering how cheap things are through rose-tinted lenses?

Also - and I know nobody can predict this for sure - do you think the looming shock of Brexit will have a big effect on cost of living in the UK? That's one imponderable that is making me think hard about whether I would really accept this job, as if everything changes to be more like the US (more expensive food, privatized medicine, etc.), and/or the economic shock results in big job losses that might make my and everyone else's financial future less secure, I'd rather stay put and have the somewhat higher salary!

Benson55

You don't say what your job is, what qualifications you have, how much experience you have in your field, whether you need more training...

beatusrhenanus

Working in higher education. Highly qualified (PhD) but unfortunately in a low-paying field (humanities). Now several years post-degree, have racked up experience teaching at several universities in the UK and US.

Benson55

well that does not sound too bad at all so should be able to get a lecturing position in a UK college or University. Best to get a really good resume out to the colleges and higher education insitutes near where you want to live and take it from there.

cyrian

You don't mention pension contributions.
It might not be a priority just now but it is important.
HTH